To profile key players in the friction materials market and comprehensively analyze their core competencies

To provide a detailed competitive landscape of the friction materials market, along with an analysis of business and corporate strategies, such as mergers & acquisitions, new product launches & developments, and expansions adopted by the key market players

Years considered for the study are:

Base Year  2017

Estimated Year  2018

Projected Year 2023

Forecast Period  2018 to 2023

For company profiles, 2017 was considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it were considered.

Research Methodology

This study aims to estimate the size of the friction materials market for 2018 and projects the demand till 2023. It also provides a detailed qualitative and quantitative analysis of the friction materials market. Various secondary sources such as directories, industry journals, and databases (which include D&B Hoovers, Bloomberg, Chemical Weekly, Factiva, government and private websites, and metal associations), were used to identify and collect information useful for this extensive commercial study on the friction materials market. Primary sources such as experts from related industries and suppliers were interviewed to obtain and verify the critical information as well as assess prospects of the friction materials market. The breakdown of profiles of primary interviewees is shown in the figure below:

Scope of the Report:

This research report categorizes the friction materials market based on product, business type, application, end-use industry, and region. The report forecasts revenues as well as analyze the trends in each of these submarkets.

Friction Materials Market, By Product:

Lining

Pads

Blocks

Discs

Others (Rolls, Sheets, Etc.)

Friction Materials Market, By Business Type:

OE

Aftersales

Friction Materials Market, By Application:

Brakes

Clutches

Industrial Brake & Transmission Systems

Friction Materials Market, By End-Use Industry:

Automotive

Railway

Construction

Aerospace & Marine

Others (Agriculture, Mining, Etc.)

Friction Materials Market, By Region:

North America

Europe

Asia Pacific

South America

Middle East & Africa

Available Customizations

Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Product Analysis

Product matrix, which gives a detailed comparison of the product portfolio of each company

Country Level Analysis

A further breakdown of the Europe friction materials market into Austria and Switzerland

A further breakdown of the Asia Pacific friction materials market into Singapore, Indonesia, and Malaysia

Further breakdown of the South America friction materials market into Colombia, Venezuela, and Chile

Further breakdown of the Middle East & Africa friction materials market into Saudi Arabia and the UAE

Company Information

Detailed analysis and profiling of additional market players

The friction materials market size is projected to grow from USD 44.65 million in 2018 to USD 57.04 million by 2023, at a CAGR of 5.0%. The market is driven by the rising demand for passenger and commercial vehicles, which leads to the growth of friction materials consumption in auto components.

On the basis of product, the friction materials market for the pads segment is projected to witness the highest CAGR during the forecast period. Pads are used in brake systems and are exposed to significant friction, which leads to wear and tear. Friction pads are less prone to release dust on abrasion and can withstand high temperature.

Based on business type, the aftersales segment is expected to lead the overall friction materials market in 2018. The growth of this segment can be attributed to the increased demand for replacement friction products, particularly in the automotive industry.

Based on application, the friction materials market in the brakes segment is projected to register the highest CAGR between 2018 and 2023. Brake systems are essential to decelerate or control acceleration of vehicles or machiner. High demand for friction brakes from end-use industries such as automotive and railway is driving the growth of the friction materials market in the brakes application segment.

Based on end-use industry, the market is projected to witness the highest growth in the automotive industry during the forecast period. Friction materials are widely used in automotive applications such as brakes and clutches. Friction products such as pads, linings, discs, and blocks are consumable components that are used as original equipment as well as aftersales components. These friction products have high demand in the automotive industry as they are prone to wear & tear. Hence, the growth in automotive friction components is driving the growth of the friction materials market in the automotive end-use industry.

The Asia Pacific region is the largest consumer of friction materials across the globe. The friction materials market in Asia Pacific is projected to register the highest CAGR during the forecast period. Countries such as China, India, and South Korea are highly populated economies with rising preference for personal vehicles, which is fueling the growth of the friction materials market in the region.

However, advancements in braking technologies are estimated to eradicate the use of friction materials across the major end-use industries. Leading players operating in the friction materials market have initiated R&D for non-friction material brake products.